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Having Enough Money for Retirement Still a Top Concern, But Moods Are Changing

“Not having enough money for retirement” continues to be the top financial worry for Americans, according to a new Gallup poll. Shortly behind that worry is “not being able to pay medical costs of a serious illness/accident,” followed by “not being able to maintain the standard of living you enjoy,” which points to ongoing concerns over inflation in… Read More »Having Enough Money for Retirement Still a Top Concern, But Moods Are Changing

Social Security now expected to run short on funds in 2035, one year later than previously projected, Treasury says

KEY POINTS The trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees’ report released Monday. On the projected depletion date, 83% of benefits will be payable if Congress does not act sooner to prevent that shortfall. The Social… Read More »Social Security now expected to run short on funds in 2035, one year later than previously projected, Treasury says

McDonald’s and other big brands warn that low-income consumers are starting to crack

KEY POINTS Some of America’s best-known corporations are saying their consumers are being pinched by inflation as prices continue rising. Inflation has dominated corporate America’s discourse over the past three years following the pandemic-induced easing of monetary policy and trillions of dollars in Covid relief. Though the pace of price growth has cooled since the Federal Reserve began… Read More »McDonald’s and other big brands warn that low-income consumers are starting to crack

Fed Chair Jerome Powell Projects Optimism, But Inflation Data Are in the Driver’s Seat

Federal Reserve Chair Jerome Powell tried to keep the central bank’s options open Wednesday by sticking with his view that interest rates are restrictive and that inflation was likely to resume its decline. But a string of disappointing readings on price and wage pressures have led investors to put less weight on the central bank’s… Read More »Fed Chair Jerome Powell Projects Optimism, But Inflation Data Are in the Driver’s Seat

Time’s money, but how much? Here’s what Americans think an hour of their time is worth

Time is precious, and Americans know it. To gauge how precious, financial planning firm Empower asked 2,204 adults between March 11 and 14 how much money they thought an hour of their time was worth. On average, Americans valued their time at $240 an hour. And based on a standard 40-hour week, that puts their perceived value… Read More »Time’s money, but how much? Here’s what Americans think an hour of their time is worth

U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%

KEY POINTS The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, lifting hopes that the Federal Reserve will be able to cut interest rates in the coming months. Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus, the Labor Department’s Bureau… Read More »U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%